Finance Minister Returns From Spring Meeting

Mr. Yaw Osafo Maafo, Minister of Finance, returned home on Sunday from Washington DC where he attended the annual International Monetary Fund (IMF) and World Bank Spring meeting.

He was accompanied by Dr. Paul Acquah, Governor of the Bank of Ghana and Dr Akoto Osei, Special Advisor to the Minister.

Mr. Osafo Maafo told journalists that the delegation held discussions with officials of the two institutions on Ghana's economic development programmes, which they acknowledged was on course, especially, with the reduction on interest rates and inflationary targets.

The minister said they also held discussions with the US Treasury Secretary on technical assistance to Ghana to improve Ghana's revenue collection.

He said they also met with the Mr. Host Kohler, Managing Director of the IMF, who would be visiting Ghana in May, to participate in the investment council meeting, the first to be held in Africa.

Mr Osafo Maafo said Ghana's energy situation was discussed and emphasised that "a holistic approach was needed to tackle the problem rather than the piecemeal approach previously used."

He said an energy expert from the US would be in the country to hold discussions with his Ghanaian counterparts.

He said he represented Africa at the press conference that rounded off the Spring Meeting and stressed the need for, "better trading terms for Africa rather than aid."